Say you have determined that creating a trust is in your best interest. That’s a significant first step, although now you are left figuring out how you’d like to proceed.
You might be tempted to jump headfirst into the process on your own. While it is technically possible to draft your own trust document without any assistance from an attorney, this often isn’t the wisest option. Although the amount of involvement you’d like a lawyer to have can vary, you should consult or work with an estate planning attorney at some point during the process.
If creating a trust is in the best interest of your family and your assets, then consider working alongside a reputable California trusts attorney. When you work with or receive feedback from a lawyer, you can be confident that your trust document will be effective whenever it’s time for trust administration.
Even if you complete the initial drafting process on your own, it’s still important that you have your document looked over by an experienced estate planning attorney. With simpler trusts, if the document contains any errors or shortcomings, a lawyer will alert you and help you correct them.
More precisely, you could benefit from a trust’s attorney the most if:
- You have a child with special needs.
- As it stands, your net worth falls somewhere close to the estate tax exemption.
- You are simply looking for some advice or guidance when it comes to drafting your trust document.
- If you plan to implement complicated conditions as a part of your trust (relating to how or when your beneficiaries will receive any assets), a lawyer could also come in handy.
Keep in mind that trust documents are often affected by state laws. Therefore, if you are a California resident, you should consider working alongside Christopher P. Walker, a highly experienced bankruptcy and estate planning attorney. This way, all legal factors can be taken into account when it comes to drafting your trust document.